[quote=Nor-LA-SD-guy]Not every situation is the same,

I would say that depending on the location and amount under water and the financial position of the owner, this could possibly be the worst advice I have ever heard (but to each their own).

For other locations (say Palmdale or maybe Phoenix AZ, possibly Denver Co) anywhere there is almost unlimited flat build-able land it may even make a little sense.

For instance I know of a Guy in L.A. who is a 100K under water on his home (he still can easily afford it currently), he ask if it would be a good Idea to walk away.

I said are you planning to live the north L.A. area for the next 10 years ???

He said yes.

I said why ruin your credit (possibly your employability) when in ten years it will all be water under the bridge most likely.

But what ever you want to believe.[/quote]

Didn’t you already say this in the “100,000 living for free” thread?